Bitcoin ATM machine installed in Nigeria

By Tunde Olorungbotemi

Chief Executive Officer, Block Stale, Adekunle Daniel has enjoined the government to embrace cryptocurrency as a legal tender and key into the idea of digital currency and blockchain technilogy in Nigeria.

He made this known during the launch of the first Bitcoin ATM machines in Lagos.
With this innovation, Nigeria ranks 8th in the world to experience the evolution of Bitcoun ATM which has brought global recognition to the country and Africa.

According to the pioneer, who is an expert in blockchain and cryptocurrency, bitcoin is a digital currency that operates independently across national boundaries and sectors, which can be used as a form of trade, investment, payment and settlement.

He disclosed that Bitcoin is legally accepted in United States of America ( USA), China, Japan, Britain, Canada and other developed countries and Nigeria should not be exempted.

” I so much believe in evolving technologies and how Bitcoin is portraying the future of decentralised finance.”
He added some of the advantages of Bitcoin includes that Nigerians can send and receive money locally or internationally conveniently.

He also disclosed that it also uses the concept of global digital single currency which allows for cryptographic proof in lieu of trust and solves the problem of over printing of traditional money which contributes towards inflation.
He further stated the Bitcoin ATM machines are built with door alarm systems, remote trackers and bioscanners which makes it theft and vandal proof.

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